Delaware | 98-3359658 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
One Park Place, Suite 600 Dublin, CA 94568 (510) 352-5000 | ||
(Address of Principal Executive Offices, Including Zip Code) | ||
________________________ |
TriNet Group, Inc. 2014 Employee Stock Purchase Plan (Full title of the plan) | ||
________________________ |
Burton M. Goldfield Chief Executive Officer TriNet Group, Inc. One Park Place, Suite 600 Dublin, CA 94568 (510) 352-5000 | ||
(Name, address and telephone number, including area code, of agent for service) |
With a copy to: | ||
Sarah K. Solum Davis Polk & Wardwell LLP 1600 El Camino Real Menlo Park, CA 94025 (650) 752-2000 | Samantha Wellington Chief Legal Officer TriNet Group, Inc. One Park Place, Suite 600 Dublin, CA 94568 (510) 352-5000 |
Large accelerated filer ý | Accelerated filer ¨ |
Non-accelerated filer ¨ (Do not check if a smaller reporting company) | Smaller reporting company ¨ |
Emerging growth company ¨ | |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ¨ |
Title of Each Class of Securities to be Registered | Amount to be Registered (1) | Proposed Maximum Offering Price per Unit | Proposed Maximum Aggregate Offering Price (3) | Amount of Registration Fee (3) |
Common Shares (par value $0.000025 per share) to be issued in connection with the TriNet Group, Inc. 2014 Employee Stock Purchase Plan | 705,965 (2) | $61.915 | $43,709,823 | $5,298 |
(1) | Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement shall also cover any Common Share, nominal value $0.000025 per share (“Common Shares”), of TriNet Group, Inc. that becomes issuable under the TriNet Group, Inc. 2014 Employee Stock Purchase Plan (the “Plan”) by reason of any share dividend, share split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding Common Shares. |
(2) | Represents shares of common stock that were automatically added to the shares reserved for issuance under the Plan on January 1, 2019 pursuant to an “evergreen” provision contained in the Plan. Pursuant to such provision, the number of shares reserved for issuance under the Plan automatically increases on January 1st each year, starting on January 1, 2015 and continuing through January 1, 2024, by the lesser of (a) 1% of the total number of shares of the Registrant’s common stock outstanding on December 31st of the preceding calendar year, (b) 1,800,000 shares of common stock or (c) a number determined by the Registrant’s board of directors. |
(3) | Estimated in accordance with Rules 457(c) and 457(h) of the Securities Act, solely for the purpose of calculating the registration fee, based on the average of the high and low sales prices per Common Share as reported on the New York Stock Exchange on May 9, 2019. |
Exhibit Number | Description | |
4.1(1) | ||
4.2(2) | ||
4.3(3) | ||
5.1 | ||
23.1 | ||
23.2 | ||
24.1 | ||
99.1(4) |
(1) | Filed as Exhibit 3.1 to Registrant’s Current Report on Form 8-K (File No. 001-36373), filed with the Securities and Exchange Commission on April 1, 2014, and incorporated herein by reference. | |
(2) | Filed as Exhibit 3.1 to Registrant’s Form 10-Q (File No. 001-36373), filed with the Securities and Exchange Commission on November 2, 2017, and incorporated herein by reference. | |
(3) | Filed as Exhibit 3.4 to Registrant’s Registration Statement on Form S-1 (File No. 333-192465), filed with the Securities and Exchange Commission on March 4, 2014, and incorporated herein by reference. | |
(4) | Filed as Exhibit 10.7 to Registrant’s Registration Statement on Form S-1 (File No. 333-192465), filed with the Securities and Exchange Commission on March 4, 2014, and incorporated herein by reference. |
TRINET GROUP, INC. | |
By: | /s/ Burton M. Goldfield |
Burton M. Goldfield | |
Chief Executive Officer |
Signature | Title | Date | ||
/s/ Burton M. Goldfield | President, Chief Executive Officer and Director (Principal Executive Officer) | May 10, 2019 | ||
Burton M. Goldfield | ||||
/s/ Richard Beckert | Chief Financial Officer (Principal Financial Officer) | May 10, 2019 | ||
Richard Beckert | ||||
/s/ Michael Murphy | Chief Accounting Officer (Principal Accounting Officer) | May 10, 2019 | ||
Michael Murphy | ||||
/s/ David C. Hodgson | Director | May 10, 2019 | ||
David C. Hodgson | ||||
/s/ Michael J. Angelakis | Director | May 10, 2019 | ||
Michael J. Angelakis | ||||
/s/ Katherine August-deWilde | Director | May 10, 2019 | ||
Katherine August-deWilde | ||||
/s/ Martin Babinec | Director | May 10, 2019 | ||
Martin Babinec | ||||
/s/ H. Raymond Bingham | Director | May 10, 2019 | ||
H. Raymond Bingham | ||||
Director | May 10, 2019 | |||
/s/ Paul Chamberlain | ||||
Paul Chamberlain | ||||
/s/ Kenneth Goldman | Director | May 10, 2019 | ||
Kenneth Goldman | ||||
/s/ Wayne B. Lowell | Director | May 10, 2019 | ||
Wayne B. Lowell |
New York Northern California Washington DC São Paulo London | Paris Madrid Tokyo Beijing Hong Kong | ||
Davis Polk & Wardwell LLP 1600 El Camino Real Menlo Park, CA 94025 | 650 752 2000 tel 650 752 2111 fax |
May 10, 2019 |
TriNet Group, Inc. One Park Place, Suite 600 Dublin, CA 94568 Ladies and Gentlemen: TriNet Group, Inc., a Delaware corporation (the “Company”), has filed with the Securities and Exchange Commission a Registration Statement on Form S‑8 (the “Registration Statement”) for the purpose of registering under the Securities Act of 1933, as amended (the “Securities Act”), 705,965 shares of its common stock, par value $0.000025 per share (the “Securities”) to be issued under the Company’s 2014 Employee Stock Purchase Plan (the “2014 ESPP”). We, as your counsel, have examined originals or copies of such documents, corporate records, certificates of public officials and other instruments as we have deemed necessary or advisable for the purpose of rendering this opinion. In rendering the opinion expressed herein, we have, without independent inquiry or investigation, assumed that (i) all documents submitted to us as originals are authentic and complete, (ii) all documents submitted to us as copies conform to authentic, complete originals, (iii) all signatures on all documents that we reviewed are genuine, (iv) all natural persons executing documents had and have the legal capacity to do so, (v) all statements in certificates of public officials and officers of the Company that we reviewed were and are accurate and (vi) all representations made by the Company as to matters of fact in the documents that we reviewed were and are accurate. Based upon the foregoing, and subject to the additional assumptions and qualifications set forth below, we advise you that, in our opinion, as of the date hereof, the Securities have been duly authorized and, when and to the extent issued, delivered and paid for in accordance with the 2014 ESPP, the Securities will be validly issued, fully paid and non-assessable. We are members of the Bars of the States of New York and California and the foregoing opinion is limited to the General Corporation Law of the State of Delaware. We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act. Very truly yours, /s/ Davis Polk & Wardwell LLP |
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